Jun
16
IRS Withholds $842 Million in Stimulus Payments
June 16, 2008 | 14 Comments
If you're missing your stimulus check, you're not alone. The IRS is withholding $842 Million from stimulus payments. How do you know if you're stimulus payment will be withheld?
According to this CNN/Money article, stimulus payments have been withheld from 1.5 million people. Over 50% of the money has gone for back child support .
About 54% of the cash intercepted will be funneled to states for …
Comment by Chris: …
May
23
The IRS Stimulus Payment program is a real mess. Many people haven't received their payments. Some haven't received the amount they were supposed to get according to the IRS web site. Some people have questions relating to child support or other debts owed to the government. Many people are searching the internet because they don't know how to contact the IRS by phone.
The IRS stimulus phone …
Comment by Chris: … and check on your stimulus payment: …
May
3
IRS Economic Stimulus Payment Article Index
May 3, 2008 | 9 Comments
There is a lot of confusion and no shortage of questions about the IRS economic stimulus payment. I'm try to keep up with the questions but it's become a full time job. This article is an index of the important links related to the stimulus payment.
Too Many Questions
At first I tried to answer every question. However, due to the sheer number of stimulus payment questions, this became a full time job. I simply can't answer every question from readers. …
May
1
How do you define fiasco ? One definition might be the Economic Stimulus Payment from the IRS and the H&R Block Emerald Card. Those taxpayers who've filed with H&R Block and opted to get their tax refund through the H&R Block Emerald Cards are scratching their heads. Will they get their stimulus check in the mail or by direct deposit to the card.
So which is it? The answer depends on who you ask. It's been reported that …
Comment by Julie: … received their stimulus payment that was due to get it …
Apr
28
Bush Announces Faster Payment Schedule for Stimulus Payments
April 28, 2008 | 347 Comments
President Bush announced that stimulus payments will be issued faster than previously announced. Tax filers who chose direct deposit can start receiving their payments as soon as April 28th.
I've updated the payment table from my original article on the stimulus payments below. You'll notice that the last payment coincides with the Independence Day holiday, a coincidence I'm sure.
Direct Deposit …
Comment by Chris: … is the "Where's My Stimulus Tool" on the IRS website: …
Mar
28
IRS Economic Stimulus Payment Details
March 28, 2008 | 243 Comments
The IRS has released the details on how it’s implementing the Economic Stimulus Package payments. Due to the questions I received on the previous article on the Economic Stimulus Package I’ve decided to write on article that focuses on the details of the plan. I’ll address the FAQs (frequently asked questions) that I’ve received.
The US Congress passed and President Bush signed a bill authorizing an economic stimulus payment to qualifying US …
Comment by Chris: … income for the stimulus payment. Source …
Mar
26
Your Economic Stimulus Payment
March 26, 2008 | 33 Comments
… Sam has decided to give you back some of your money. President Bush and the Congress passed the Economic Stimulus Act of 2008. Every tax payer gets up to a $600 rebate. The rebate goes up to $1200 if you are filing jointly and you could possibly get another $300 for each qualifying child.
While I’m all in favor of getting my money bank from a corrupt and ineffective bureaucracy, I have to take issue with the cost. You may think I’m talking about the cost of the rebate itself. …
Jun
13
The economic stimulus payment program has been a fiasco. Hundreds of readers have shared their horror stories. You'd think the government could figure out how to get checks to people. Put the check in the mail, what's so hard about that? When government gets involved, simple things get complicated fast. If the government can't mail a check right, why would we let the government take over health …
May
8
Is the Economic Stimulus Payment Taxable Income?
May 8, 2008 | 5 Comments
Is the economic stimulus payment (rebate) considered taxable income ? A few readers have asked that question so I figured I'd address it.
Economic Stimulus Payment is NOT Taxable Income
The simple answer is that the economic stimulus payment (rebate) is not considered taxable income by the IRS. So you won't have to count the stimulus payment in your income for your 2008 taxes. However, you …
Apr
30
Economic Stimulus Payment - Child Support Questions
April 30, 2008 | 244 Comments
Many questions about the Economic Stimulus Payment keep coming up. Some of the most common involve child support. The questions fall into two categories: owing and receiving child support.
If You or Your Spouse Owes Child Support
The IRS will withhold your payment up to the full amount, if you owe back child support. If you file a joint return and one spouse owes child support the IRS can withhold the …
Comment by Anonymous: … to send WEEKLY payments #1 he wouldn't fall behind and …